Calif. Appeals Court OKs Dismissal Of Countrywide Fraud Suit

Law360, Los Angeles (March 1, 2013, 5:19 PM EST) -- A California state appeals court on Thursday upheld the decertification and dismissal of a class action accusing Countrywide Home Loans, Inc. of financial code violations and fraud over its failure to explain appraisal costs related to loan refinancing, saying the named plaintiff had failed to prove his claims.

The appellate panel on Thursday upheld the trial court's decision, saying it hadn’t erred in decertifying the class or dismissing the suit. The lower court previously had certified the class on named plaintiff Terry Gibson’s financial code violation...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.